BD Surpasses Scope 1 and 2 Reduction Milestones for FY 2023
BD (Becton, Dickinson and Company) announced it surpassed its FY 2023 Scope 1 and 2 greenhouse gas (GHG) emissions reduction targets by 5 percentage points. The company reported an 18% reduction in these emissions from a FY 2019 baseline, exceeding its target of 13%.
BD also gained approval for its near- and long-term emissions reduction plans from the Science Based Target initiative (SBTi), aligning its efforts with global climate goals. Additionally, the company has doubled the number of sites using Green Electric Power and on-site renewables since FY 2019. BD aims to achieve net zero GHG emissions across its value chain by FY 2050.
BD's sustainability initiatives and progress, including a commitment to reduce Scope 1 and 2 GHG emissions by 50% by 2030, are highlighted in their Fiscal Year 2023 Corporate Sustainability Report.
- BD achieved an 18% reduction in Scope 1 and 2 GHG emissions from a FY 2019 baseline, surpassing its FY 2023 target of 13%.
- BD doubled the number of sites using Green Electric Power and on-site renewables (solar power) since FY 2019.
- BD received approval for its near- and long-term science-based emissions reduction targets from the Science Based Target initiative (SBTi).
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Insights
BD's recent announcement of surpassing its Scope 1 and 2 GHG emissions reduction targets for FY 2023 is a significant achievement in the context of environmental sustainability. Scope 1 and 2 emissions refer to direct emissions from owned or controlled sources and indirect emissions from the generation of purchased electricity, respectively. The company reported an 18% reduction in these emissions compared to a target of 13%, which is an indication of proactive and effective measures in their operations.
However, for retail investors, it's essential to recognize that while sustainability advancements are crucial, they do not immediately translate into financial gains. The long-term benefit lies in improved corporate reputation, potential cost savings from energy efficiency and risk mitigation against future environmental regulations. Furthermore, the approval from the Science Based Target initiative (SBTi) lends credibility to BD's objectives, indicating that their targets are not only ambitious but also scientifically validated.
Investors should keep in mind that such sustainability initiatives can provide competitive advantages in an increasingly eco-conscious market. As more companies strive to meet environmental standards, those like BD that lead the way could potentially see benefits in terms of customer loyalty and reduced liability.
From a financial perspective, BD's progress in reducing GHG emissions signals a positive outlook for the company's long-term sustainability and operational efficiency. While this achievement is noteworthy, investors should consider the broader impact on the company's financial health. The transition to green energy and the investment in renewable resources, like solar power, can involve significant upfront costs. However, these investments are likely to yield long-term savings through reduced energy costs and potential tax incentives.
The commitment to reduce Scope 1 and 2 emissions by 50% by
Moreover, the partnerships with suppliers and customers on climate initiatives indicate a holistic approach to sustainability, potentially leading to stronger business relationships and an enhanced market position. Investors should watch for any related financial metrics in upcoming earnings reports to gauge the cost efficiency and financial viability of these sustainability efforts.
Gaining approval of near- and long-term targets and net-zero target from SBTi supports BD's sustainability journey by ensuring that its climate actions are science-based, transparent and aligned with global efforts to combat climate change. In FY 2023, the company reported an 18 percent reduction of Scope 1 and Scope 2 GHG emissions (from a FY 2019 baseline), surpassing its target of 13 percent for the year. Additionally, BD doubled the number of sites that are now using Green Electric Power and on-site renewables (solar power) since FY 2019.
"We're proud of the work we've done this past year to exceed our goals and address our environmental footprint, while also addressing the climate footprint of the healthcare industry, which is equivalent to nearly 5 percent of global emissions," said Maureen Mazurek, chief sustainability and EHS officer. "We know that we can't do it alone, and collaboration across industry is what will move the needle. This is why we are actively partnering with suppliers and customers, as well as alliances like Race to Zero and CHARME, to further our goal together."
To further underscore the company's commitment to achieving emissions reduction across all scopes, BD signed the White House HHS Health Sector Climate Pledge and committed to reduce its Scope 1 and 2 GHG reduction target by 50 percent by 2030 (from a 2019 baseline, absolute).
BD's emissions reduction goals, as well as other achievements across the company's 2030+ corporate sustainability goals, are reported in the Fiscal Year 2023 Together We Advance Corporate Sustainability Report, issued today.
About BD
BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its more than 70,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care. For more information on BD, please visit bd.com or connect with us on LinkedIn at www.linkedin.com/company/bd1/, X (formerly Twitter) @BDandCo or Instagram @becton_dickinson.
Contacts: | |
Media: | Investors: |
Jessica Offerjost | Adam Reiffe |
BD Public Relations | Sr. Director, Investor Relations |
201.258.0964 | 201.847.6927 |
1 Full details of our near- and long-term targets can be found on page 20 of the 2023 Corporate Sustainability Report
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SOURCE BD (Becton, Dickinson and Company)
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